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International Bank of Azerbaijan reported a net profit of 139,592 million manats ($82 million) in 2021, 22 percent down from a year earlier.

Last year, SOCAR said it planned to transport 1.209 million tonnes of oil via Russia in 2022.

Lenders reported a rise in total net profit by 16.9 percent year-on-year to 173.9 million manats ($63.4 million) in the first quarter of this year.

The holding's total equity declined to 2.25 billion manats as of January 1, 2022 from 2.6 billion manats a year earlier. Revenue rose to 1.7 billion manats from 1.6 billion manats.

The bank reported a net profit of 139,592 million manats ($82 million) in 2021, 22 percent down from a year earlier.